Silver could be about to make a move !!Very intresting situation in the silver market right now !!
As Silver is clearing agina the 30 dollar level, it is attempting to break resitance of the downward trending channel for the 5th time in the last 50 days !!
The breakdown of the bullish expanding wedge recently could be a false move.
If Silver closes the week (which is a four day week) above the 30 level, we could be in for a big surprise.
Watch out !
Presciousmetals
Silver may shine above mid channel ResistanceSilver futures tried to jump unsuccessfully above the Mid channel line resistance but has been unsuccessful so far. Closing above 74324 will unleash a new bull run in Silver which might have resistances at 76341 and 78000+. The two resistances can also be considered next targets in case of closing over 74324. In case the mid channel line proves to be potent resistance the supports for Silver future are at 72850 and 72490 (Major Support). If 72490 is broken by any chance next supports are at 70174 and 68017.